As the University of Iowa searches for a new top executive to lead its sprawling health care enterprise and highly-ranked college of medicine, administrators want a partner to help them assess the “fair market valuation” of a “wide range of health care settings and assets” — enabling the UI to buy another health care entity if it wants, The Gazette reports.
The Centers for Medicare & Medicaid Services has regulations around “fair market value” — not just for determining compensation but property and asset transactions of health care facilities.
“It is a federal regulatory requirement to complete a fair market value assessment before purchasing health care entities or practices” said a UIHC statement. “UI Health Care is proactively seeking a company that specializes in this skill set through the public bid process, which will allow us to better assess purchase opportunities when they arise.”
UIHC officials didn’t provide more details about what kinds of opportunities they might be pursuing. But through a request for qualifications from prospective firms — who must submit proposals by May 29 — UI Health Care is seeking “fair market evaluation opinions” on settings and assets like multi-specialty physician group practices; primary care group practices; ambulatory surgery centers; outpatient imaging centers; and hospital service lines. Read more.
